Proprietors' income is a component of which approach to measuring GDP?
A) incomes approach
B) expenditure approach
C) cost approach
D) output approach
A
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A tariff is
A) a subsidy granted to importers of a vital input. B) a tax imposed by a government on goods imported into a country. C) a limit placed on the quantity of goods that can be imported into a country. D) a health and safety restriction imposed on an imported product.
Which of the following is the injection into the circular flow model?
a. Money deposited in a savings account. b. Income earned through exports. c. Goods imported from abroad. d. Taxes paid by the individuals.
When output rises, unemployment falls
a. True b. False Indicate whether the statement is true or false
Which of the following is an economic explanation for the "beauty premium"?
a. Employers pay very attractive women less than average-looking women because they believe them to be less intelligent. b. Employers pay above-average-looking men more than above-average-looking women. c. Employers pay above-average-looking women more than average-looking women because customers prefer to deal with better-looking women. d. Employers pay above-average-looking men more because they signal to the market that they are willing to spend more money on personal grooming, a sign of wealth and stability.